ValuEngine Lowers MINDBODY (MB) to Hold

ValuEngine downgraded shares of MINDBODY (NASDAQ:MB) from a buy rating to a hold rating in a report published on Wednesday morning.

Several other research firms also recently commented on MB. JPMorgan Chase & Co. downgraded shares of MINDBODY from an overweight rating to a neutral rating and decreased their target price for the stock from $48.00 to $31.00 in a research report on Wednesday. KeyCorp reissued a buy rating and set a $38.00 target price on shares of MINDBODY in a research report on Wednesday. BidaskClub downgraded shares of MINDBODY from a strong-buy rating to a buy rating in a research report on Wednesday, August 1st. Credit Suisse Group decreased their target price on shares of MINDBODY from $41.00 to $38.00 and set a neutral rating for the company in a research report on Wednesday, August 1st. Finally, Morgan Stanley decreased their target price on shares of MINDBODY from $42.00 to $40.00 and set an equal weight rating for the company in a research report on Wednesday, August 1st. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $33.70.

MB traded down $0.18 during midday trading on Wednesday, hitting $26.82. The company had a trading volume of 1,246,871 shares, compared to its average volume of 1,253,458. MINDBODY has a 52 week low of $24.75 and a 52 week high of $45.50. The company has a quick ratio of 9.61, a current ratio of 9.61 and a debt-to-equity ratio of 0.86.

MINDBODY (NASDAQ:MB) last posted its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. MINDBODY had a negative net margin of 16.91% and a negative return on equity of 9.26%. The firm had revenue of $63.80 million during the quarter, compared to the consensus estimate of $63.99 million. During the same period in the previous year, the firm posted $0.01 earnings per share. The business’s revenue was up 36.9% compared to the same quarter last year. On average, equities analysts expect that MINDBODY will post -0.64 earnings per share for the current year.

In other MINDBODY news, major shareholder Luxor Capital Group, Lp sold 78,548 shares of the business’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $33.20, for a total value of $2,607,793.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Adam L. Miller bought 3,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The stock was bought at an average price of $35.66 per share, for a total transaction of $106,980.00. The disclosure for this purchase can be found here. Insiders sold a total of 127,809 shares of company stock valued at $4,430,896 over the last ninety days. 6.02% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in shares of MINDBODY by 40.9% in the 1st quarter. JPMorgan Chase & Co. now owns 13,205 shares of the technology company’s stock worth $513,000 after purchasing an additional 3,832 shares during the period. UBS Group AG grew its stake in shares of MINDBODY by 117.0% in the first quarter. UBS Group AG now owns 79,557 shares of the technology company’s stock valued at $3,094,000 after buying an additional 42,899 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new stake in shares of MINDBODY in the first quarter valued at about $223,000. WINTON GROUP Ltd acquired a new stake in shares of MINDBODY in the first quarter valued at about $282,000. Finally, Allianz Asset Management GmbH grew its stake in shares of MINDBODY by 2.5% in the first quarter. Allianz Asset Management GmbH now owns 179,690 shares of the technology company’s stock valued at $6,990,000 after buying an additional 4,385 shares in the last quarter. Hedge funds and other institutional investors own 98.86% of the company’s stock.

About MINDBODY

MINDBODY, Inc operates a cloud-based business management software and payments platform for the small and medium-sized businesses in the wellness services industry. Its platform enables businesses to run, market, and build scheduling and online booking, performance tracking, staff management, client relationship management, integrated payment processing, retail point-of-sale, purchase tracking, inventory, hardware integration, analytics and reporting, branded Web, mobility, social integration, client acquisition dashboard, security and compliance, and integration with other cloud-based partners for yoga, Pilates, indoor cycling, group and personal training, boutique fitness, salons, spas, and integrative health businesses.

Further Reading: Correction

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for MINDBODY (NASDAQ:MB)

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